Janus Forty Fund (JACTX)

High-Conviction Large-Cap Growth Equities

SHARE CLASS

FUND FACTS (JACTX)

Inception Date5/1/1997
NAV (As of 2/5/16 )$24.72
Total Net Assets (As of 12/31/15)$2.34B
Annual Expense Ratio
(As of fiscal year end 9/30/15)
GROSS 0.95%
NET 0.95%

Performance (As of 12/31/15)
1 Year12.00%
3 Year17.16%
5 Year13.11%
10 Year8.79%
Morningstar (As of 1/31/16)
CategoryLarge Growth
Overall Rating™
(Based on risk-adjusted returns)

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1546 Funds Rated
Equity
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Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold. For the most recent month-end performance click here.

Returns greater than one year are annualized.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/17.

Quarterly Commentary - Q4 2015

EXECUTIVE SUMMARY

Economic data during the fourth quarter suggested that the U.S. economy continued to grow at a stable rate despite global headwinds.

The Fund outperformed its benchmark.

We believe that volatility will stay elevated amid continuing questions about global economic growth, which underscores the importance of finding select companies with truly sustainable competitive advantages.

FUND MANAGEMENT

Doug Rao

Doug Rao

Fund Manager since 2013
Industry since 1998

Nick Schommer

Nick Schommer, CFA

Fund Manager since 2016
Industry since 2007